Friday, June 14, 2019

5 Steps to Take to Guarantee Your 100 Year Old Home is Insurable

Even though many older houses have quite a bit of charm, some of those residences can be very difficult to insure. If an insurance company thinks that a home is going to be a risk, then they probably won’t offer any form of coverage. In order to get homeowners insurance, you might need to improve the safety and security of your older home.

Update the Roof

Every insurance company is slightly different, but most of those providers will only insure a roof if it is under a certain age or completely undamaged. At the very least, you must fix any shingles that are curled, bent, or cracked. Replacing a few shingles is a relatively inexpensive project that most roofing contractors can complete in a single day.

Replace the Wires

Unfortunately, many older homes were built with aluminum wires, and those wires are a major fire hazard. To get homeowners insurance, you will most likely need to replace all of the wires and outlets if any aluminum was used. 

This can be an expensive and time-consuming project, and you should only replace the wires if you truly love the home.

Look for Galvanized Pipes

Over the years, different homeowners might have replaced various pipes, and some of those pipes could be made from galvanized steel. That particular type of steel is prone to corrosion, and a single leak could result in tens of thousands of dollars in water damage. All of the galvanized pipes in the home must be replaced with PVC, PEX, or copper pipes.

Level the Yard

As a general rule, the yards around a home should always slope away from the foundation to prevent flooding. You might also need to build one or more retaining walls with high-quality steel products. Those walls are going to prevent the earth from sliding toward your home after a heavy rainstorm.

Check for Asbestos

Asbestos-related health problems usually aren’t covered by home insurance, but your provider might be wary of insuring the home if any dangerous building materials were used. The easiest way to check for asbestos is to use an inexpensive test kit from a local home improvement store. Those kits are very easy to set up, and you should get results in a matter of days.

Before you carry out any upgrades, you must have every inch of your home looked over by a certified inspector. One of those professionals can give you a comprehensive list of potential issues that need to be addressed.

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